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Electric vehicle startups have sprung up in droves to capitalize on the industry’s massive growth potential. For investors, identifying the top electric vehicle startups could result in multi-bagger returns down the road. Think about the Chinese EV firms such as Nio, which generated a price return of over 150% over the past three years. Others could have similar potential, especially with the EV market estimated to grow by a tremendous 17.1% to $691.5 billion through 2028.
That said, let’s look at three electric vehicle startups to keep tabs on this year.
AMV
Atlis Motors
$0.92
REE
REE Automotive
$0.44
GOEV
Canoo
$0.82
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